Hong Kong shares decline as investors take short positions

Source: Dukascopy Bank SA
Hong Kong stocks retreated as investors closed their positions on growth-sensitive outperformers. The Hang Seng index closed down 0.1% at 23,635.1 points after closing at the highest level on Tuesday. Five out of nine groups in the gauge edged lower with oil and gas sector posting biggest decline of 0.6%. China Merchants Holdings International slipped 4.23% to HK$27.20 and was the worst performing blue chip in the index. Furthermore, Belle International, a woman footwear retailer, lost 3% to cap further gains in consumer services group that was only 0.08% up. Henderson Land eased 2.6% and triggered a decline in financial shares, as they were 0.07% lower, Meanwhile, Asian insurer AIA Group extended its gains, rising 2.1% after falling to its lowest level in a month on Monday. The insurer gained after Goldman Sachs reported on January 23 that improving sales in Thailand in the fourth quarter might aid to boost up profit expectations. BOC Hong Kong Holdings posted second biggest increase, as it added 1.9% to HK$26.65.
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